Governor reshaping how energy giants operate

By Scott Malone

Capital News Service

RICHMOND – Gov. Ralph Northam signed a bill Friday reshaping the way the state’s monopoly utility companies, Dominion Energy and Appalachian Power, are allowed to spend revenues received from customers.

In approving the bill, the governor turned back late-session pleas by opponents who fear the bill will allow the electric companies to regulate themselves.

Northam, on Twitter, described the legislation as “ending the freeze on energy utility rates, returning money to customers, and investing in clean energy and a modern grid. I am proud that my team and I improved this bill significantly and thank the General Assembly for its continued work on the measure.”